IMF: Fiscal consolidation to lift Burundi from economic doldrums

imf pic

The International Monetary Fund logo. PHOTO | REUTERS

The International Monetary Fund (IMF) says growth-centric fiscal consolidation efforts will help lift Burundi from the current economic difficulties that are slowing recovery from the slump occasioned by recent global shocks.

Sustained efforts to reduce Bujumbura’s current expenditure, which have mostly been inflated by salaries and subsidies, are expected to narrow its budget deficit as it also strengthens revenue collection to deliver stronger growth this year.